Solid Bank automated brokerage operations

2024: Automation of brokerage operations

Solid Bank, together with Diasoft, has completed a project to automate key brokerage operations. For this task, the Brokerage Service product was chosen, which is part of the Digital Q.FinMarkets development platform. The introduction of an industrial software product from Diasoft will help Solid Bank implement strategic plans for business development in the financial markets. Diasoft announced this on September 25, 2024.

When choosing a software product, important criteria were the ability to receive and serve customers in different branches, ensure the rapid launch of new brokerage products, timely support for legislative changes and uninterrupted processing of operations in financial markets.

During the project, the following operations are automated:

• Automatic acceptance of clients for brokerage and depository services with registration on the Moscow Exchange. Now the entire onboarding process is fully automated.
• Processing of trading and non-trading customer transactions - this ensures efficiency and accuracy in working with assets.
• Processing of payments by the issuer of securities - this accelerates the process of receiving dividends and coupon payments.
• Calculation of brokerage commissions for bank tariffs - now customers see a transparent structure of expenses.
• Calculation and retention of personal income tax.
• Internal accounting that controls financial flows.
• Generate and send broker report.

According to strategic plans for business development in the financial markets, Solid Bank is increasing its customer base and operations in the financial markets. To support the growing business, we are introducing a modern technological solution from Diasoft, which will increase the speed of processing all operations in the financial markets and will allow us to quickly launch new products for customers, "said Sergey Seleznev, Head of Brokerage Services at Solid Bank JSC.

We are confident that the introduction of a product for automation of brokerage services will become a reliable foundation for the implementation of strategic objectives of Solid Bank's business development in the financial markets. Already in September 2024, bank employees are more focused on complex and strategically important tasks due to the automation of routine tasks, - said Konstantin Kokurin, head of the product department "Market Data and Customer Trading Operations" at Diasoft.

By automating brokerage business processes, the operational efficiency of the business was increased, the reliability and accuracy of operations were increased, and the time and financial costs of operations were reduced. Solid Bank and Diasoft plan to further develop cooperation in the direction of automating the bank's business processes.